YEREVAN, February 3. \/ARKA\/. Last week, the Central Bank of Armenia decided to reduce the fees banks charge businesses for cashless payments, Central Bank Governor Martin Galstyan announced.<\/p>\n\n\n\n
He said the decision was made in response to numerous requests from businesses reporting fees of 2-4% for cashless payments.<\/p>\n\n\n\n
“Starting March 1, the maximum rates will be 0.5% for cards of the national ArCa payment system and 0.9% for international cards,” Galstyan said, adding that international payment systems Visa and Mastercard apply their own fees.<\/p>\n\n\n\n
According to Galstyan, in the next stage, the regulator will assess whether fees have been a factor hindering the development of cashless payments. He also noted that the level of fees in Armenia is slightly higher than the global average.<\/p>\n\n\n\n
“According to the Central Bank’s estimate, the damage to Armenia’s banking system as a result of these restrictions will amount to approximately 2 billion drams,” Galstyan said.<\/p>\n\n\n\n
The government is continuing the gradual transition to cashless payments. According to a government decision, starting April 1, 2026, all government payments, including pensions and benefits, will be made exclusively in cashless form.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"
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